Name: Once in Golconda
Rating: 4.40 (1 reviews)
Author: John Brooks

John

 Once in Golconda is a dramatic chronicle of the breathtaking rise, devastating fall, and painstaking rebirth of Wall Street in the years between the wars that have all the ruthlessness, greed, and reckless euphoria of the 20s bull market, the desperation of the days leading up to the crash of 29 and the bitterness of the years that followed.  John Brooks brings to vivid life all these memories with his trademark elegance. 

Brendan Moynihan is a financial writer and commentator. He is the author of the book "Behavioral Investing for Dummies" and a regular contributor to publications such as Forbes and The Wall Street Journal. He has also appeared as a guest on financial news programs such as CNBC's "Squawk Box" and Fox Business News. Moynihan has more than 20 years of experience in the financial industry, including as a portfolio manager and hedge fund analyst.
Brendan Moynihan is also a Bloomberg Opinion writer. He writes about behavioral finance, which studies how psychological and emotional factors affect financial decisions. He also writes about investing and the markets, focusing on using behavioral finance insights to make better investment decisions. Moynihan has been a regular contributor to Bloomberg News since 2018, and he has also written for other publications such as Forbes and The Wall Street Journal.
He is also the author of the book "Behavioral Investing for Dummies." He is a former portfolio manager and hedge fund analyst with over 20 years of experience in the financial industry. He lives in Brentwood, Tennessee, with his wife and two sons.

Brendan

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John Brooks' Once in Golconda provides a deep insight into the world of Wall Street and the stock market. It's a great read if you're looking to explore the intricacies of financial markets and understand how they operate.

Understanding the Stock Market

The book takes you back in time to the Wall Street crash of 1929 and the Great Depression that followed. It's a fascinating look into a significant period in financial history, helping you understand the events that shaped the modern financial world.

Historical Perspective

Brooks highlights the role of human emotions in financial decisions. He shows how fear and greed can drive the market, leading to booms and busts. This is a key takeaway for anyone looking to make informed financial decisions.

Human Emotions and Financial Decisions

In Once in Golconda, you'll find detailed profiles of key players like Richard Whitney and Jesse Livermore. Their stories offer valuable lessons on the impact of individual actions on the market.

The Role of Key Players

The book underscores the importance of regulation in maintaining market stability. It's a reminder that without proper checks and balances, the financial market can easily spiral out of control.

The Importance of Regulation

Once in Golconda

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Peter

The stock market consistently hits new highs, catching long-time analysts off-guard and forcing them to revise their estimates. Amidst this upheaval, Peter Bernstein has written an in-depth history of man's attempts to understand risk and probability from ancient gamblers' basic calculations to modern chaos theory.&nbsp;
Bernstein claims that these studies play an important role in everything from game theory to bridge-building to winemaking.

Jason Zweig is an American financial journalist, author, and columnist who has been writing on personal finance and investing topics for over 30 years. He is best known for his work as an editor and columnist for The Wall Street Journal, where he wrote the “Intelligent Investor” column from 1997 to 2011. He is also the author of seven books, including Your Money and Your Brain, The Devil’s Financial Dictionary, and The Little Book of Safe Money.
Zweig was born in 1962 in Detroit, Michigan. His father, a rabbi, was an early influence in his life, urging him to save money and invest it wisely. Zweig attended the University of Michigan and then Harvard Law School, where he graduated with an MBA in 1986. After law school, he worked as a financial analyst and trader at a merchant bank in New York City before transitioning to journalism and writing.
In 1993, Zweig joined Money magazine as a senior editor and columnist. His “Moneywise” column ran in Money for the next nine years. In 1997, he joined The Wall Street Journal as a senior editor and columnist, where he wrote the “Intelligent Investor” column until 2011. He is currently the Director of Investor Education at The Wall Street Journal.
In addition to his work at The Wall Street Journal, Zweig has written seven books on personal finance and investing. His books include Your Money and Your Brain, The Devil’s Financial Dictionary, and The Little Book of Safe Money. His books have been translated into 15 languages and have sold over 1 million copies worldwide.
Zweig’s writing has been praised for its clear, accessible style and for its ability to explain complex financial topics in simple terms. He has been featured in The New York Times, The Wall Street Journal, The Washington Post, and other publications. In addition, he has appeared on numerous television and radio programs, including CNBC, Fox Business, and NPR.
Throughout his career, Zweig has been a tireless advocate for individual investors. He has helped to educate millions of people on the importance of investing wisely and taking a long-term approach to invest. He is passionate about the power of individual investors and has devoted his career to helping others make smart investment decisions.
Zweig is also a noted philanthropist, having donated his time and money to numerous causes. He is a trustee of the University of Michigan, a trustee of the Brooklyn Academy of Music, and a board member of the Economic Club of New York. He is also the founder of the Zweig Family Foundation, which provides grants to organizations that improve education and combat poverty.
Zweig has received numerous honors and awards for his writing and philanthropy. He has been inducted into the Mutual Fund Industry Hall of Fame, received the Gerald Loeb Award for Distinguished Business and Financial Journalism, and was named one of the 100 Most Influential People in Finance by Worth magazine. In addition, he has been honored with the National Humanities Medal by President Obama.

Jason

Michael Mauboussin is a well-known thinker and researcher in behavioral finance and investment management. He is currently the Head of Consilient Research at Counterpoint Global, a division of Morgan Stanley Investment Management, and a member of the board of trustees of the Santa Fe Institute, a leading research institution in the field of complex systems science.
Mauboussin has published extensively on a wide range of topics related to finance and investing, including the role of psychology in decision-making, the impact of information and information asymmetry on markets, and the limitations of traditional financial models. He is also a regular speaker at industry conferences and has been a guest on numerous financial news programs.
Michael Mauboussin has authored several books that have been well-received in the investment and finance community. Some of his notable books include:
<ul>
<li>"The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing" - This book explores the role of skill and luck in various fields, including business, sports, and investing.&nbsp;</li>
<li>"More Than You Know: Finding Financial Wisdom in Unconventional Places" - In this book, Mauboussin examines how seemingly unrelated fields such as science, philosophy, and history can inform our understanding of finance.&nbsp;</li>
<li>"Think Twice: Harnessing the Power of Counterintuition" This book focuses on how our intuition can lead us astray when making decisions and the importance of using counterintuitive thinking to avoid common biases.</li>
<li>"The Knowledge Illusion: Why We Never Think Alone" - This book explores how our minds are connected to the more extensive web of knowledge and how this shapes our thinking and decision-making.</li>
</ul>
All of these books are widely read by investment professionals and general readers alike. They offer a unique perspective on various topics and are widely considered thought-provoking and informative.
Mauboussin holds a Bachelor of Arts in Economics from Colgate University and a Master of Business Administration from the Columbia Business School, where he was a recipient of the John M. Bryan scholarship. He has also earned the Chartered Financial Analyst (CFA) designation.
Mauboussin is known for his ability to explain complex financial concepts in a clear and accessible way and is highly respected by his peers in the industry. His research and insights have significantly impacted the field of finance and continue to shape the way many investors and financial professionals think about markets and decision-making.

Michael

Patrick O'Shaughnessy is the Chief Executive Officer of O’Shaughnessy Asset Management (OSAM). He is a renowned financial expert, author, and podcast producer.
In his role at OSAM, Patrick oversees company operations and is responsible for its growth and success. He works to ensure that the company’s focus remains on providing its clients with the best possible investment advice and strategies.
Patrick is the author of Millennial Money: How Young Investors Can Build a Fortune, published by Palgrave Macmillan. The book provides readers with actionable advice on how to get started with investing, build a portfolio, and become a successful investor. He is also a contributing author to the Fourth Edition of What Works on Wall Street, a book by James O’Shaughnessy that covers the latest strategies and tools for successful investing.
In addition to his work at OSAM, Patrick is the host of the popular podcast “Invest Like the Best.” The podcast features conversations with leading investors across asset classes. The show has become a favorite of investors around the world and has surpassed 7 million downloads.
Patrick is also a frequent speaker at industry and investor conferences and events. He is regularly invited to present at events such as the Sohn Investment Conference and the Value Investing Congress. Patrick holds a Bachelor’s degree in Economics from the University of Pennsylvania and a Master’s degree in Financial Management from the University of Chicago Booth School of Business.
With his vast experience in the investment industry and his passion for helping others become successful investors, Patrick has become a leading figure in the world of financial advice. He continues to work to help people become successful investors and is a trusted advisor to investors around the world.

Patrick

Howard Marks is an American investor and author best known for his investment fund, Oaktree Capital Management, which he co-founded in 1995. He is also known for his book, "The Most Important Thing: Uncommon Sense for the Thoughtful Investor," published in 2011 and has since become a widely-read and highly-regarded investment guide.
Marks began his career in the 1970s as an analyst at Citibank, where he worked on the bank's high-yield bond desk. He later joined First Boston investment bank, working in the high-yield bond department. In 1985, he co-founded Oaktree Capital Management, which has grown to become one of the world's largest alternative investment management firms.
Marks is known for his investment philosophy, which emphasizes the importance of risk management and a focus on value investing. He is a firm believer in the idea that investors should focus on the long term and avoid trying to time the market. He also stresses the importance of understanding an investment's underlying fundamentals and diversifying one's portfolio.
Marks is also known for his regular market commentary, in which he shares his insights on the state of the economy and the markets. These commentaries, sent to Oaktree clients, are widely read and respected by investors and financial professionals.
In addition to his work in the investment world, Marks is also an active philanthropist. He has made significant donations to education and medical research and is a member of the board of directors of the University of Southern California.
Marks is also known for his contrarian approach to investing, which means that he often takes positions opposite to the market's consensus. He argues that by doing so, investors can benefit from market inefficiencies and take advantage of opportunities that others may have overlooked.
In addition to his investment philosophy, Marks is known for emphasizing the importance of process and discipline in investing. He believes that investors should have a well-defined investment process that they stick to, regardless of the current market conditions. This approach helps to minimize the impact of emotions and biases on investment decisions.
Marks' book "The Most Important Thing: Uncommon Sense for the Thoughtful Investor" is considered a must-read for any serious investor. The book provides a detailed overview of his investment philosophy and draws on his decades of experience to offer practical advice on becoming a successful investor. He also shares his insights on the markets and the economy and provides a detailed analysis of the most critical factors investors should consider when making investment decisions.
Over the years, Howard Marks has received numerous awards and accolades for his contributions to the investment industry. He has been honored by Institutional Investor magazine as one of the "Top Money Managers" in the high-yield bond category and was also named as one of the "Top Portfolio Managers" by Morningstar in their annual Fund Manager of the Year awards.
Marks is also respected for his ability to navigate through market cycles. As a result, his investment funds have performed well during different market conditions, reflecting his ability to identify opportunities and manage risks.
In conclusion, Howard Marks is an accomplished and well-respected investor, author, and philanthropist. His investment philosophy and process, as well as his market commentary, have helped many investors navigate the markets and make successful investment decisions. His book, "The Most Important Thing: Uncommon Sense for the Thoughtful Investor," is considered a classic in investing. His approach to investing is widely studied and emulated by investors and investment professionals.

Howard

Warren Buffett

Bill Gates

Nassim Nicholas Taleb

Robert J. Shiller

Daniel Kahneman

In 'Against the Gods', Peter L. Bernstein explores the concept of risk. He explains how understanding and managing risk is crucial in making sound decisions, especially in finance and investments. This book will help you see risk in a new light and might change how you make decisions in your life.

Understanding Risk

Bernstein takes us on a journey through the history of probability. He shows how the concept has evolved over centuries and how it has shaped our understanding of the world. It's fascinating to see how our ancestors dealt with uncertainty and how their methods have influenced modern practices.

History of Probability

The book highlights the significant role that mathematics plays in understanding and managing risk. Bernstein explains complex mathematical concepts in a way that's easy to understand. So, even if you're not a math whiz, you'll find this book enlightening.

The Role of Mathematics

Bernstein digs into how our understanding of risk and probability influences our decision-making process. He shows how these concepts are used in various fields, from finance to science, and how they can help us make better decisions in our daily lives.

Influence on Decision Making

While 'Against the Gods' is a book about numbers and probability, it's also about people. Bernstein explores how human behavior and psychology interact with risk and uncertainty. He shows that understanding this interaction is just as important as understanding the numbers.

The Human Element

Against the Gods

In this brilliantly reported and Pulitzer Prize-winning narrative, Michael Lewis brings us to the heart of the pre-crash United States--the strange new world that led us to the edge. Beginning with a handful of rogue traders in Oklahoma and California who spotted a moneymaking opportunity in subprime mortgages, he moves on to describe how their scam unfolded and spread through the financial system. He offers vivid portraits of those involved, from victims such as Alyssa Moore, an Orange County housewife who followed all the rules but still lost her home, to survivors such as Bill Ackman, a young hedge fund manager who saw disaster looming and tried to warn everyone he could reach.

Malcolm Gladwell has been a staff writer at The New Yorker since 1996. He is the author of The Tipping Point, Blink, Outliers, and What the Dog Saw. Prior to joining The New Yorker, he was a reporter at the Washington Post. Gladwell was born in England and grew up in rural Ontario. He now lives in New York.

Malcolm

David Heinemeier Hansson is a Danish programmer, entrepreneur, and writer. He is best known as the creator of the popular web development framework Ruby on Rails, which revolutionized the way web applications are built. He is also the founder and CTO of the web application company 37signals, which developed Basecamp, Highrise, and Campfire.
Heinemeier Hansson was born in Aarhus, Denmark. He studied computer science at Aarhus University but dropped out after two years to pursue a career in programming. After a few months of freelancing, he created the development framework Ruby on Rails, which he released in 2004. The framework quickly gained popularity and is now used by millions of web developers.
Heinemeier Hansson is also the co-founder and CTO of 37signals, a web application company that he founded with Jason Fried and Carlos Segura in 1999. The company has developed popular web applications like Basecamp, Highrise, and Campfire. Heinemeier Hansson is now focused on the development of Basecamp, which is a project management tool used by millions of people.
In addition to his programming and entrepreneurial work, Heinemeier Hansson is also a prolific writer. He has written several programming and web development books, including Rails 4 in Action and Getting Real. He is also an active blogger and speaker and regularly talks at conferences worldwide.
Heinemeier Hansson is an active philanthropist and environmentalist. He has donated to a variety of causes, including the WWF and the Copenhagen Climate Council. He is also a member of the Board of Directors of the Danish Refugee Council.
In 2011, Heinemeier Hansson became the first Dane ever to be awarded the Hans Christian Andersen Award for his programming and web development contributions. He is also an honorary professor at Aarhus University, where he was a student before leaving to pursue his career.
Heinemeier Hansson is a passionate advocate for open source software development and is a regular contributor to open source projects. He is also a vocal advocate for reducing the environmental impact of the tech industry and is a member of the Board of Directors of the Copenhagen Climate Council. He is a strong believer in the power of technology to make the world a better place and is often quoted as saying “Technology is the most powerful tool we have to address the world’s problems.”

David Heinemeier

Sheryl Sandberg is a technology executive, author, and philanthropist. She served as Facebook's Chief Operating Officer (COO) from 2008 until August 2022. Before joining Facebook, Sandberg served as Vice President of Global Online Sales and Operations at Google, where she helped the company grow its advertising and operations.
Sandberg is widely recognized for her leadership, business acumen, and efforts to promote gender equality in the workplace. She is the author of the bestselling book "Lean In: Women, Work, and the Will to Lead," which encourages women to pursue their professional ambitions and aims to create a more equal and inclusive workplace.
Sandberg's career began in the private sector, where she worked at McKinsey &amp; Company and then at the World Bank. She later transitioned to the public sector, serving as Chief of Staff for the United States Secretary of the Treasury under President Bill Clinton.
In addition to her role at Facebook, Sandberg is actively involved in philanthropy and public service. She is the founder of LeanIn.Org, a nonprofit organization that empowers women and promotes gender equality. She is also a member of the board of directors of The Walt Disney Company and SurveyMonkey.
Sandberg's work and leadership have been recognized with numerous awards and honors. She has been named to Forbes' list of the World's 100 Most Powerful Women, Time's 100 Most Influential People in the World, and Business Insider's list of the 30 Most Powerful Women in Technology.
After stepping down as COO of Facebook, Sandberg may continue to be active in technology, business, and philanthropy, using her experience and influence to advocate for diversity and inclusion in the workplace and other social causes.

Sheryl

Warren Buffet

Malcolm Gladwell

The Big Short by Michael Lewis offers a deep insight into the 2008 financial crisis. It's a great read if you want to understand how the global economy was brought to its knees. Lewis explains complex financial concepts in a way that's easy to grasp.

Understanding the Financial Crisis

In The Big Short, Lewis explores the role of subprime mortgages in the financial crisis. He shows how these risky loans were packaged into seemingly safe investments, leading to a housing bubble that eventually burst.

The Role of Subprime Mortgages

The book tells the story of a few outsiders who predicted the crisis. These individuals, despite being laughed at and ignored, made a fortune by betting against the market. It's a fascinating look into how contrarian thinking can pay off.

The Outsiders Who Saw It Coming

Lewis digs into the failure of big institutions during the crisis. He shows how banks, rating agencies, and the government failed to see the signs and take action. It's a sobering reminder of the dangers of complacency and groupthink.

The Failure of Big Institutions

The Big Short is a wake-up call about the importance of financial literacy. By understanding how the financial system works, you can make better decisions and protect yourself from future crises. So, take a look at this book and start your journey towards financial education.

The Importance of Financial Literacy

The Big Short

Maggie

In 1982, the Dow Jones Industrial Average was under 1000. Then, the market rose and gained speed until it peaked above 11000 in March 2000. Journalist Maggie Mahar has written a book about the remarkable bull market that began in 1982 and ended early in the new decade.&nbsp;
During this 17-year cycle of growth, a colorful cast of characters such as Abby Joseph Cohen, Mary Meeker, Henry Blodget, and Alan Greenspan came to dominate the financial news. These inside accounts explain what happened during that period, why it happened, and how it affected most people.

Nassim Nicholas Taleb is a Lebanese-American essayist, scholar, statistician, and former trader and risk analyst whose work focuses on problems of randomness, probability, and uncertainty. He is the author of several books, including "The Black Swan: The Impact of the Highly Improbable," which was published in 2007 and became a bestseller.
Taleb is a former trader and risk analyst and has worked as a professor of risk engineering at New York University's Tandon School of Engineering. He has a background in mathematics, statistics, and computer science and has published numerous papers in academic journals on topics related to randomness and uncertainty.
Taleb's main area of research is the study of "black swans," which he defines as rare events that have a large impact and are typically not predictable. He argues that traditional risk assessment methods, such as using historical data to predict future events, are inadequate because they fail to consider the possibility of black swan events.
Taleb is also known for his criticism of the concept of "normalcy" in statistics and his skepticism of the use of mathematical models in finance and economics. He has argued that the assumptions made in these models are often unrealistic and can lead to dangerous oversimplifications.
In addition to his work in academia, Taleb is also a public intellectual and has written several books for a general audience. His books have been widely discussed and debated in the media and have been translated into multiple languages.
Taleb is a strong advocate for antifragility, a concept he has developed and popularized in his books. Antifragility is the property of a system or entity that improves when subjected to volatility, shocks, stressors, or disorder and doesn't just remain indifferent to them.
Taleb's writing style is often characterized as provocative and contrarian, and he is known for his strong opinions on a wide range of topics. His work has been influential in the fields of economics, finance, and risk management and has also been discussed in the broader cultural and intellectual conversation.

Nassim Nicholas

Warren Buffett is an American businessman, investor, and philanthropist. He is the chairman and largest shareholder of Berkshire Hathaway, a multinational conglomerate holding company. Buffett began his career as a stockbroker and later formed his investment partnership, which eventually became Berkshire Hathaway. He is widely considered one of the most successful investors in history, and many have studied and emulated his investment strategies and philosophies. He is often referred to as the "Oracle of Omaha" due to his successful investment decisions.
Buffett is considered one of the wealthiest people in the world. According to Forbes, as of 2021, he is the 4th richest person in the world, with a net worth of over $100 billion. He has consistently been among the top 10 wealthiest people worldwide for many years. Much of his wealth comes from his controlling stake in Berkshire Hathaway and his successful investment decisions. He is also known for his philanthropy, having pledged to give away the majority of his wealth to charitable causes through the Giving Pledge.
Warren Buffett is also a well-known philanthropist. He has pledged to give away the majority of his wealth to charitable causes through the Giving Pledge, an initiative he started with Bill and Melinda Gates in 2010. Through the pledge, Buffett and other billionaires commit to giving away at least half their wealth to charitable causes during their lifetime or in their will.
Buffett has also made significant donations to various charitable organizations, including the Bill and Melinda Gates Foundation, the Susan Thompson Buffett Foundation (named after his late wife), and the Howard G. Buffett Foundation, named after his father. He has also contributed to education, healthcare, and poverty-reduction initiatives.

Warren

Paul Krugman

Joseph Stiglitz

Robert Shiller

Nouriel Roubini

Ben Bernanke

In 'Bull!', Maggie Mahar gives a detailed account of the stock market's history from 1982 to 2003. She helps you understand how the market works, its ups and downs, and the factors that influence it. This book is a great place to start if you're looking to explore the world of stocks.

Mahar highlights the significant role media plays in influencing the stock market. She shows how media hype can create unrealistic expectations and lead to financial bubbles. It's a reminder to be cautious and do your own research before making investment decisions.

The Role of Media in the Stock Market

One of the key takeaways from 'Bull!' is the importance of financial literacy. Mahar emphasizes that understanding financial concepts and the workings of the market can protect you from making poor investment decisions. So, take some time to educate yourself - it's worth it!

Mahar also sheds light on how government policies can impact the stock market. She provides examples of how changes in regulations and economic policies can lead to market booms or crashes. This insight can help you see the bigger picture when investing.

The Impact of Government Policies

Finally, 'Bull!' teaches us that history often repeats itself, especially in the stock market. By studying past market trends and crashes, you can learn valuable lessons and avoid making the same mistakes. So, dig into the past, learn from it, and make smarter investment decisions.

Lessons from the Past

Bull!

Roger

This business classic is now available with a new Afterword by the author, Roger Lowenstein. In the new edition, Mr. Lowenstein draws parallels to the recent financial crisis, explaining how the personalities of Long-Term Capital Management’s partners, their arrogance toward mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history.

Maksymilian Rafailovych "Max" Levchin is a Ukrainian-born American software engineer. In 1998, soon after graduating from college, he co-founded the company that eventually became PayPal. Levchin contributed to PayPal's anti-fraud efforts[1] and was the co-creator of the Gausebeck-Levchin test, one of the first commercial implementations of a CAPTCHA challenge response human test.
He founded or co-founded the companies Slide.com, HVF, and Affirm. He was an early investor in Yelp and was their largest shareholder in 2012. He left a leadership role at Yelp in 2015. Levchin was also a producer for the movie Thank You for Smoking.
In 1998, Levchin and Peter Thiel founded Field link. The security company allowed users to store encrypted data on their PalmPilots and other PDA devices for handheld devices to serve as "digital wallets." After changing the company name to Confinity, they developed a popular payment product known as PayPal and focused on digital funds transfers by PDA.
The company merged with X.com in 2000, and in 2001, the company adopted the name PayPal after its main product.[8] PayPal, Inc. went public in February 2002 and, in July 2002, was acquired by eBay. Levchin's 2.3% stake in PayPal was worth approximately $34 million at the time of the acquisition. Levchin is primarily known for his contributions to PayPal's anti-fraud efforts and is also the co-creator of the Gausebeck-Levchin test, one of the first commercial implementations of a CAPTCHA.
In 2002, he was named to the MIT Technology Review TR100 as one of the top 100 innovators in the world under the age of 35, as well as Innovator of the Year. Levchin is one of a group of roughly twenty founders and former employees of PayPal who have become referred to as the "PayPal Mafia" due to their success in founding and investing in tech companies after leaving PayPal.
In 2004, Levchin founded Slide, a personal media-sharing service for social networking sites such as Myspace and Facebook. Slide was sold to Google in August 2010 for $182 million, and on August 25, Levchin joined the company as vice president of engineering. However, on August 26, 2011, Google announced it was shutting down Slide, and that Levchin was leaving the company.
In late 2011, Levchin started a company called HVF (standing for "Hard, Valuable, and Fun") that was intended to explore and fund projects and companies in the area of leveraging data, such as data from analog sensors. In early 2012, the financial technology company Affirm was spun out of HVF to build the next-generation credit network. Affirm was created by Levchin, Palantir Technologies co-founder Nathan Gettings, and Jeff Kaditz of First Data. The company is based in San Francisco.
In 2013, HVF launched Glow, a fertility app that helps couples conceive naturally. After Affirm's initial public offering, Levchin's stake was estimated at $2.5 billion. In 2015, Levchin was appointed to the U.S. Consumer Financial Protection Bureau (CFPB) advisory board for a three-year term, making him the first Silicon Valley executive.&nbsp;
In 2021, Levchin called for the tech industry to engage more with regulators after his experience on the advisory board at the CFPB. As of 2021, Levchin had an estimated net worth of over USD 3 billion.

Shane Parrish is a popular podcast host, author, and entrepreneur. He is the founder of the popular blog Farnam Street and the host of the popular podcast The Knowledge Project.
Shane was born and raised in Canada and has always had a passion for learning and understanding the world around him. He has an undergraduate degree in psychology and a master's degree in finance from McGill University.
Shane started his journey into the world of business when he joined the Royal Bank of Canada in 2008. However, after two years of working in the financial industry, he decided to take a different path and quit his job to pursue his passions.
In 2012, Shane founded Farnam Street, a blog and podcast dedicated to helping people learn and understand the world around them and make better decisions. Since then, Farnam Street has become one of the most popular and respected sources of knowledge, with millions of readers and listeners.
In addition to running Farnam Street, Shane hosts the popular podcast The Knowledge Project. This podcast features conversations with leading thinkers, including entrepreneurs, investors, academics, and more. Through these conversations, Shane helps his audience better understand how to think and make decisions more effectively.
Shane has also written several books, including “The Great Mental Models” and “The Great Investment Strategy.” Both books provide valuable insights into the thinking and making decisions more effectively.
Shane's work has been featured in many publications and websites, including The New York Times, The Wall Street Journal, and TED. In addition, he is a regular speaker at conferences and events worldwide and has been featured on several podcasts and radio shows.
Shane is passionate about helping others learn, understand the world around them, and make better decisions. He is always looking for new and innovative ways to help people grow and become more successful.

Shane

Charlie Munger

When Genius Failed by Roger Lowenstein shows us that even the smartest people can make mistakes. The book explores the story of Long-Term Capital Management, a hedge fund run by geniuses who ended up failing spectacularly. It's a reminder that no one is infallible, and even the brightest minds can overlook crucial details.

The Fallibility of Genius

One of the key lessons from When Genius Failed is the importance of risk management. The book shows how Long-Term Capital Management's failure to properly manage risk led to their downfall. It's a wake-up call for anyone in business to always consider the potential risks and have a plan to deal with them.

The Importance of Risk Management

Lowenstein's book highlights the dangers of overconfidence. The geniuses at Long-Term Capital Management were so sure of their strategies that they didn't consider the possibility of failure. This overconfidence led to their downfall. It's a lesson for us all to always question our assumptions and not let success blind us to potential pitfalls.

The Dangers of Overconfidence

When Genius Failed also explores the role of the government in financial crises. The book shows how the government had to step in to prevent a complete financial meltdown after Long-Term Capital Management's failure. It's a fascinating look into the complex relationship between the financial industry and government regulation.

The Role of Government in Financial Crises

Finally, the book gives us a deep insight into the complexity of financial markets. It shows how even the smartest people can struggle to predict market behavior and how a single mistake can lead to catastrophic consequences. It's a must-read for anyone interested in finance or anyone who wants to understand the intricacies of the financial world.

The Complexity of Financial Markets

When Genius Failed

Jack

In his most widely appealing book yet, one of today's leading authors of popular anthropology looks at the intriguing history and peculiar nature of money, tracing our relationship with it from the time when primitive men exchanged cowrie shells to the imminent arrival of the all-purpose electronic cash card.&nbsp;

Alfred Lin is a prominent venture capitalist and business leader known for his work with companies such as Zappos, where he served as CFO and COO and as a partner at venture capital firm Sequoia Capital.
He began his career in the late 1990s, working at the management consulting firm McKinsey &amp; Company. He then joined Zappos, an online shoe retailer, in 1999 as the CFO and COO, helping to grow the company to over $1 billion in annual revenue before Amazon acquired it in 2009.
After leaving Zappos, Lin joined Sequoia Capital as a venture capitalist, where he has been involved in investments in companies such as Airbnb, Instacart, and DoorDash. He is also known for his work as an angel investor, with investments in companies such as Wish, Front, and Mixpanel.
Lin has been recognized for his business acumen and leadership skills, receiving awards such as the Ernst &amp; Young Entrepreneur of the Year award and the CFO of the Year award from the Las Vegas Business Press. He is also a frequent speaker at industry events, sharing his insights on entrepreneurship, venture capital, and business strategy.
Lin is also a philanthropist and actively involved in social issues. He also serves on the board of several non-profit organizations, such as the Kapor Center for Social Impact and Opportunity Fund.
In addition to his business and philanthropic work, Lin is known for his support of diversity and inclusion in the tech industry. He has been vocal about the need for more diversity in leadership positions and has worked to promote the careers of underrepresented groups in the tech industry.
Overall, Alfred Lin is a prominent and accomplished business leader known for his work in venture capital, his successes as an executive, his dedication to philanthropy, and his commitment to diversity and inclusion.

Alfred

In 'The History of Money', Jack Weatherford takes us on a journey through time, exploring how money has evolved from simple barter systems to the complex digital currencies we use today. It's fascinating to see how money has changed and adapted to fit societal needs over the centuries.

The Evolution of Money

Weatherford digs into the profound impact money has had on society. He shows us how the invention of money has shaped civilizations, influenced politics, and even sparked wars. It's a powerful reminder of how something as simple as a medium of exchange can have far-reaching effects.

Impact of Money on Society

Ever wondered why gold is so valuable? Weatherford explains it all in his book. He explores the history of gold as a form of money, and why it has remained a stable and trusted form of currency for thousands of years. It's a must-read for anyone interested in the economic history.

The Role of Gold

The book also takes a look at the rise of paper money. Weatherford explains how paper money was initially met with skepticism but eventually became the norm. He also discusses the problems and benefits that came with this shift. It's a great way to understand the complexities of our modern financial system.

The Rise of Paper Money

What does the future hold for money? Weatherford doesn't shy away from this question. He researches into the rise of digital currencies like Bitcoin and discusses their potential impact on our financial systems. It's a thought-provoking look into what money might look like in the future.

The Future of Money

The History of Money

Tempting credit was the tsunami of cheap money that swept through the globe between 2002 and 2008. It seemed to push countries to indulge in behaviors they wouldn't normally want to pursue. For example, Icelanders became more interested in banking than fishing, the Greeks approached their country like a piñata loaded with cash, the Germans remained true to their traditional German goals and ideals, and the Irish tried to disconnect from their roots.&nbsp;
Americans were lulled into a comfortable complacency by Michael Lewis's exploration of bubbles outside our country's borders, which was beautifully, cruelly amusing. He turned a ruthless eye on California and Washington, DC, however, we realized that his story was a ruse disguised as comedy and we comprehended the fate that awaited our nation.

Scott Pape, affectionately known as The Barefoot Investor, is a prolific Australian author and radio commentator. He is renowned for his no-nonsense advice on personal finance and is a trusted voice to many Australians.
Pape is the author of several books, including the best-selling The Barefoot Investor: The Only Money Guide You’ll Ever Need. Released in 2016, this book has sold over 1.7 million copies and is the best-selling finance book in Australian history. It outlines Pape’s approach to personal finance, which is based on common sense, simple strategies, and practical tips. He advocates for people to start investing from a young age, to pay off their debts, and to live within their means.
Pape is also a regular radio commentator on personal finance topics. He has been a frequent guest on various radio shows, including ABC Radio National and 3AW. His appearances on these programs have been highly acclaimed, and he is known for his ability to make complex financial topics accessible and easy to understand.
In addition to his work as an author and radio commentator, Pape is an active philanthropist. He has set up The Barefoot Foundation, a charity that provides financial education and assistance to disadvantaged Australians. He is also an ambassador for the National Debt Helpline, a service that helps Australians manage their debt.
Pape has been widely recognized for his work in the field of personal finance. In 2016 he was awarded the Order of Australia Medal, and in 2018 he was made a Fellow of the Financial Services Institute of Australasia. He has also been featured in numerous publications, including The Australian Financial Review, The Sydney Morning Herald, and The Age.
Overall, Scott Pape is a highly respected authority in the field of personal finance. His no-nonsense approach and commitment to helping Australians make better financial decisions have made him a trusted voice for many.

Scott

Fareed Zakaria

In Boomerang, Michael Lewis takes us on a journey to understand the global financial crisis. He explores how different countries contributed to the crisis and how it affected them. It's a great read if you want to dig into the economic history of the 2000s.

Understanding the Global Financial Crisis

One of the key points Lewis makes in Boomerang is the role of culture in economics. He shows how cultural attitudes towards debt and risk-taking played a big part in the financial crisis. It's a fascinating look at how our beliefs can shape our financial decisions.

The Role of Culture in Economics

Boomerang isn't just about the causes of the financial crisis. It's also about the aftermath. Lewis takes a look at how countries like Greece, Ireland, and Iceland were affected by the crisis. He paints a vivid picture of the economic and social impact of the crisis.

The Impact of the Financial Crisis on Countries

If there's one lesson to take away from Boomerang, it's the importance of financial responsibility. Lewis shows how reckless spending and borrowing can lead to disaster. It's a reminder that we need to be careful with our money, whether we're individuals or nations.

The Importance of Financial Responsibility

Finally, Boomerang is a great example of the power of storytelling in economics. Lewis doesn't just present dry facts and figures. He tells engaging stories that make the economic concepts easy to understand. If you've ever found economics boring, this book might change your mind.

The Power of Storytelling in Economics

Boomerang

In 1958, Bank of America dropped its first 60,000 credit cards in the unassuming city of Fresno, California. This began one of the most astonishing revolutions in modern American life: What I label “the money revolution. ” For decades following, the middle class gained access to credit cards, mutual funds, retirement accounts—and hundreds of other financial vehicles.&nbsp;
In this lively and engaging book, I tell the story of some of the great financial characters of recent times: from turn-of-the-century financiers like John Pierpont Morgan and J. P. Getty to today’s workers at Fidelity Investments and PricewaterhouseCoopers.

Suze Orman

In A Piece of the Action, Joe Nocera explores the transformation of personal finance in America. He takes us on a journey from the time when people were skeptical about investing in the stock market to the era where it became a common practice. It's a fascinating look into how we've become a nation of investors.

The Evolution of Personal Finance

Nocera digs into the role of financial institutions in shaping our attitudes towards money. He shows how banks, credit card companies, and investment firms have not only made finance accessible to the average person, but also influenced our spending and saving habits. It's a must-read if you want to understand the forces that shape your financial behavior.

The Role of Financial Institutions

The book also explores the impact of technology on personal finance. From online banking to robo-advisors, Nocera shows how technology has made it easier for us to manage our money and invest in the stock market. If you're interested in the intersection of finance and technology, you'll find this book enlightening.

The Impact of Technology

A Piece of the Action emphasizes the importance of financial literacy. Nocera argues that understanding finance is crucial in today's world where we're all expected to take charge of our financial future. He encourages us to educate ourselves about money matters and make informed financial decisions.

The Power of Financial Literacy

Lastly, the book takes a look at the influence of consumerism on our financial habits. Nocera researches how the rise of consumer culture has led us to spend more and save less. He challenges us to rethink our spending habits and strive for a more balanced approach to personal finance.

The Influence of Consumerism

A Piece of the Action

Bethany

Fortune senior writers Bethany McLean and Peter Elkind have written a new book about the Enron scandal. Their book, due out in May, will offer readers insight into the fall of one of America's biggest companies.&nbsp;
Although dozens of books have been written about Watergate, only one book has been able to capture all the drama, nuance, and exclusive reporting that makes a great story: All the Presidents Men. Today, if you want to read only one book about Enron, Fortune's McLean and Elkind's new book will be that book.

Sheryl Sandberg

Adam Grant

In The Smartest Guys in the Room, Peter Elkind explores the devastating effects of unchecked corporate greed. He shows how Enron's top executives manipulated the system for personal gain, leading to the company's downfall. This book is a stark reminder of the importance of ethical business practices.

The Dangers of Corporate Greed

Elkind's book reveals how Enron's executives created an illusion of success. They used complex accounting tricks to hide debt and inflate profits, fooling investors and employees alike. It's a fascinating look into how appearances can be deceiving in the business world.

The Power of Illusion

The Smartest Guys in the Room highlights the critical role of transparency in business. Elkind shows how Enron's lack of transparency led to its collapse. This book will make you see the value of honesty and openness in business.

The Importance of Transparency

Elkind doesn't just focus on the financial aspects of Enron's collapse. He also digs into the human cost, showing how employees and investors suffered as a result. It's a powerful reminder of the real-life consequences of corporate failure.

The Human Cost of Corporate Failure

Finally, The Smartest Guys in the Room shows the importance of effective regulation in preventing corporate fraud. Elkind explores how lax oversight allowed Enron's executives to get away with their schemes for so long. It's a compelling argument for stronger regulation in the business world.

The Role of Regulation

The Smartest Guys in the Room

Gregory

In 2006, hedge fund manager John Paulson realized something few others suspected--that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it.&nbsp;&nbsp;
Colleagues at investment banks scoffed at him, and investors dismissed him. Even pros skeptical about housing shied away from the complicated derivative investments that Paulson was just learning about.&nbsp;
But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Burry began to bet heavily against risky mortgages and precarious financial companies. Timing is everything, though. Initially, Paulson and the others lost tens of millions of dollars as real estate and stocks continued to soar.&nbsp;

Charles Thomas Munger is an American businessman, lawyer, and philanthropist. He is the vice chairman of Berkshire Hathaway, a conglomerate controlled by Warren Buffett, and has been a partner of Buffett since 1978. Munger is also the chairman of Daily Journal Corporation, a newspaper publishing company, and a director of Costco Wholesale Corporation.
Munger was born in Omaha, Nebraska, in 1924 and grew up in a middle-class family. He attended the University of Michigan, where he earned a bachelor's degree in mathematics and a law degree. After completing his education, Munger worked as a trial lawyer in Los Angeles before joining the U.S. Army in World War II.
In 1962, Munger met Warren Buffett through a mutual friend, and the two formed a partnership that would last for decades. Munger joined Berkshire Hathaway in 1978 and has been the company's vice chairman ever since. Under Buffett and Munger's leadership, Berkshire Hathaway has grown to become one of the largest and most successful companies in the world.
Munger is also known for his philanthropy and has donated millions of dollars to various charitable causes, including education, health care, and the arts. He is a strong advocate for the power of compound interest and has said that it is one of the most important concepts for people to understand when it comes to building wealth.
Munger is also an accomplished speaker and writer. He is known for his wit and wisdom and has delivered many speeches and interviews on topics such as investing, business, and life lessons. Munger's advice is widely sought after by business leaders, investors, and students of investing.
In addition to his role at Berkshire Hathaway, Munger has also served on the board of several other companies, including Blue Chip Stamps and Wesco Financial Corporation. He is a member of the American Academy of Arts and Sciences. He has received several awards and honors for his business and philanthropic contributions, including the prestigious Woodrow Wilson Award for Corporate Citizenship.
Munger is known for his unconventional and contrarian investing philosophy, which often goes against popular industry trends. He has a strong focus on value investing and encourages investors to look for undervalued companies with strong fundamentals. He also stresses the importance of having a long-term investment horizon and avoiding the pressure of short-term market fluctuations.
Munger is also a strong believer in the power of knowledge and education. He has said that one of the keys to success in business and investing is constantly learning and expanding one's knowledge. He is known for reading extensively and has a wide range of interests, including psychology, history, and philosophy.
Another characteristic of Munger is wit and wisdom in his speeches, interviews, and writings. He is known for his candid, straightforward, and often humorous commentary on various topics. His speeches and interviews are widely followed and celebrated by business leaders, investors, and students of investing.
Overall, Charles Munger is not only a highly successful businessman and philanthropist but also a remarkable thinker and mentor who has made an enduring impact on the world of business, investing, and philanthropy through his investment philosophy, his business acumen, and his wisdom.

Charlie

Elon Musk

Mark Zuckerberg

Jeff Bezos

The Greatest Trade Ever gives you a deep understanding of the 2008 financial crisis. Gregory Zuckerman explains how the housing bubble burst and led to a global economic meltdown. You'll get to see the crisis from a new perspective.

The book explores the story of John Paulson, a hedge fund manager who made billions by betting against the housing market. It shows the power of contrarian thinking and how going against the crowd can sometimes lead to huge rewards.

The Power of Contrarian Thinking

Zuckerman takes you on a journey into the world of high finance, hedge funds, and Wall Street. You'll get a glimpse into how these financial institutions operate and the strategies they use to make money.

Insight into the World of Finance

The Greatest Trade Ever is also a lesson in risk management. It shows how Paulson managed his risks and made calculated decisions that led to his success. This is a great book for anyone looking to learn more about managing risks in investments.

Lessons in Risk Management

If you're an aspiring investor, this book will inspire you. It shows that with the right strategy and a bit of courage, anyone can make it big in the world of finance. Check out the book to find out how Paulson did it.

Inspiration for Aspiring Investors

The Greatest Trade Ever

Bryan

Barbarians at the Gate is an acclaimed literary masterpiece about the fall of RJR Nabisco.  It includes a new afterword by the authors that brings this great story of greed and double-dealing up to date twenty years after the famed deal.  The Los Angeles Times says it’s “Superior. ” The Chicago Tribune calls it, “An incredible story—and it’s delivered in a flawless style. ”

David Mayer de Rothschild is a British adventurer, environmentalist, entrepreneur, and author. Born in 1978, he is the youngest of the three children of Sir Evelyn de Rothschild and his wife, Victoria Lou Schott. He inherited the Rothschild title from his father, and the family continues to have a strong presence in the banking industry.
David was educated at Eton College and Oxford University, where he studied Natural Sciences. He is a passionate environmentalist who has devoted his career to promoting sustainability and raising awareness of the effects of climate change. He is the founder of Adventure Ecology, a global platform that promotes environmental projects and initiatives. He has undertaken numerous expeditions, including a solo trek across the Arctic Ocean and a five-month, 5,000-mile journey across the Pacific Ocean in a boat made of recycled plastic bottles.
In addition to his environmental pursuits, he is also a successful entrepreneur. He founded the biomimicry investment firm, Sculpt the Future, which focuses on developing sustainable technologies based on nature’s designs. He also co-founded the environmental venture capital firm Generation Investment Management.
He is the author of four books, including The Live Earth Global Warming Survival Handbook and The Advanced Environmental Solutions Handbook, and has written numerous articles for various publications. He is also a sought-after public speaker, having given speeches at events such as the World Economic Forum in Davos and the TEDx conference at the Royal Society in London.
David Mayer de Rothschild is a leader in the field of sustainable development and an inspiration to many. He is a passionate advocate for the environment and a role model for sustainable living.
David Mayer de Rothschild has been recognized for his environmental efforts, having been presented with awards from organizations such as the United Nations Environment Programme, the World Economic Forum, and the BBC World Challenge. He has also been appointed as the United Nations Environment Programme’s Goodwill Ambassador for Biodiversity. He is a member of the International Union for the Conservation of Nature’s Global Leadership Council.
David is also a philanthropist, having founded the Rothschild Foundation, which provides support to environmental organizations around the world. In addition, he is an active philanthropist through his various foundations and charitable projects. He is a patron of the World Wildlife Fund and the Royal Geographical Society, among other organizations.
David is also a strong advocate for social justice and is an active campaigner for human rights and animal welfare. He is an Ambassador for the World Society for the Protection of Animals and a member of the International Advisory Council of the World Resources Institute.

David

Jack Welch

Peter Lynch

Barbarians at the Gate, written by Bryan Burrough, explores the role of greed in the corporate world. The book shows how the desire for wealth and power can lead to unethical decisions and destructive behavior. It's a great read if you want to understand the darker side of business.

The Power of Greed

The book provides a detailed look into the intricacies of corporate takeovers. It shows how these processes are not just about numbers and contracts, but also about human emotions, egos, and politics. If you're interested in business, this book will give you a new perspective on corporate takeovers.

The Complexity of Corporate Takeovers

Bryan Burrough highlights the importance of corporate culture in Barbarians at the Gate. He shows how a company's culture can influence its decisions, operations, and ultimately, its success or failure. It's a must-read if you want to understand the role of culture in business.

The Impact of Corporate Culture

The book also explores the influence of media in the business world. It shows how media coverage can shape public perception and impact a company's reputation. If you're curious about the relationship between business and media, you should definitely check out this book.

The Role of Media in Business

In Barbarians at the Gate, Burrough paints a vivid picture of the consequences of poor leadership. He shows how ineffective leaders can lead a company to its downfall. If you're a leader or aspire to be one, this book will help you understand the importance of good leadership.

The Consequences of Poor Leadership

Barbarians at the Gate

Published to critical acclaim twenty years ago, and now considered a classic, The House of Morgan is the most ambitious history ever written about American finance. It is a rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned, ones that would transform the modern financial world.&nbsp;
Tracing the trajectory of J. P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987, acclaimed author Ron Chernow paints a fascinating portrait of the family’s private saga and the rarefied world of the American and British elite in which they moved—a world that included Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill.&nbsp;
A masterpiece of financial history—it was awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth Century—The House of Morgan is a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years.&nbsp;

Paul Graham is an entrepreneur, programmer, and essayist. He is the co-founder of Y Combinator, a startup accelerator that has funded over 2,000 companies including Dropbox, Airbnb, and Reddit. His career has been focused on technology and startups. He began his career as a programmer and software developer, working on various projects and startups. In 1995, he co-founded Viaweb, one of the first web-based companies that allowed users to create their own online stores. The company was later sold to Yahoo in 1998 for $49 million.
After the sale of Viaweb, Graham turned his attention to startup investing and mentoring. In 2005, he co-founded Y Combinator, a startup accelerator that provides funding, resources, and mentorship to early-stage startups. Y Combinator has since funded over 2,000 companies, many of which have gone on to become successful and valuable companies, such as Dropbox, Airbnb, and Reddit.
Paul Graham has several notable achievements in his career, including:
<ul>
<li>Co-founding Viaweb: Viaweb was one of the first web-based companies that allowed users to create their own online stores. The company was later sold to Yahoo in 1998 for $49 million.</li>
<li>Fellowship at Harvard's Society of Fellows: Graham is a Fellow at Harvard's Society of Fellows, a prestigious group of scholars who receive funding and support to pursue their research.</li>
<li>Helping launch successful startups: Graham has helped launch many successful startups through Y Combinator and has mentored many entrepreneurs. Some of the successful companies that came out of Y Combinator include Dropbox, Airbnb, and Reddit.</li>
</ul>
In addition to his work with Y Combinator, Graham is also known for his essays on technology and startups. He has written extensively on the startup ecosystem, the role of technology in society, and the future of the internet. His essays have been collected in two books, "Hackers &amp; Painters" and "Ansi Common Lisp." He continues to share his thoughts and insights on his website, paulgraham.com.

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Once in Golconda

320 pages, 1999

John Brooks

business & management

economics & politics

money & investing

history

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Brendan Moynihan

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